How much does it cost to live in Phoenix?

Typical monthly costs in Phoenix are approximately $1,600 in rent and $1,700 in other expenses, totalling around $3,300/month.

How much should I save in Phoenix?

Based on BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save 12–20% of gross income. In a high cost city like Phoenix, housing costs can reduce this, particularly for renters.

Phoenix · USD · high cost city

Cost of living in Phoenix — is your salary enough?

Phoenix median rent is around $1,600/month, up sharply following sustained migration from California. Phoenix's income-to-cost ratio has deteriorated since 2020 but remains better than coastal peers.

Rent in Phoenix

Budget$1,200 – $1,450/mo

Typical$1,600 – $1,850/mo

Premium$2,100+/mo

Other monthly costs

Food, transport, bills, going out~$1,700/mo

Total typical monthly spend~$3,300/mo

How different incomes stack up

At typical Phoenix costs ($1,600 rent)

$40,000 – $55,000→ saving -6.9%

Critical

$55,000 – $75,000→ saving 14.2%

On Track

$75,000 – $100,000→ saving 36.3%

Ahead

See your personal verdict for Phoenix

Country

Annual income (gross)$65,000

$20,000$235,000$450,000+

Monthly rent or mortgage$1,600/mo

$0$4,000$8,000+

Other monthly expenses

Food, transport, subscriptions, going out — everything except rent

$1,750/mo

$0$3,750$7,500+

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Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from BLS Consumer Expenditure Survey 2023. Figures in USD.

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Compare nearby cities

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Also in the Verdict suite

SalaryVerdict — Is your Phoenix salary competitive?SpendVerdict — Is your Phoenix rent too high?